Ant International and HSBC test new cross-border payments solution using tokenised deposits on Swift’s network and powered by ISO 20022. The successful POC marks a key milestone in Ant International, HSBC, and Swift’s efforts to help businesses unlock the full benefits of tokenisation for enhanced liquidity, programmable finance, and 24/7 real-time settlement.

"Powered by ISO 20022, the solution extends HSBC's existing AML systems, anti-fraud capabilities and infrastructure into the Tokenised Deposit Service, paving the way for digital money issuers to leverage ISO 20022 and the Swift network, enabling easier adoption by banks and external customers during its future rollout and allowing further interoperability between digital money and traditional fiat money."

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More coverage

• HSBC and Ant unlock 24/7 cross-border payments with blockchain (bobsguide.com)
• Ant International and HSBC Test New Cross-Border Payments ... (businesswire.com)
• HSBC Launches New Cross-border Tokenised Deposit Service (treasury-management.com)
• Ant International and HSBC to test new cross-border payments ... (thepaypers.com)
• Cross Border Digital Payments & Growth - Ant International (ant-intl.com)

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